In Depth: By Spurning EVs, Great Wall Motor Faces Becoming a Fossil in China

But building up its footprint in markets that still rely on fossil-fuel cars — like Russia and Southeast Asia — may offer a lifeline

In an interview last month, the chairman of Great Wall Motor Co. Ltd. lambasted the auto industry’s “reckless” price cuts, arguing they’ve forced carmakers to compromise on quality to stay competitive.

While few in the industry would dispute Wei Jianjun’s criticism, it also reflects his growing worry about the future of his company.

While Great Wall Motor has stayed out of the price war, it wasn’t immune to its impact — its first quarter report showed profits plunged 45.6% year-on-year to 1.75 billion yuan ($243 million) and vehicle sales slid 6.73% to 256,807 units.

That marks a stark decline from 2016, when Great Wall Motor made 10.5 billion yuan in profit and sold more than 1 million vehicles, outpacing both BYD Co. Ltd. and Geely Automobile Holdings Ltd. Its Haval SUV line accounted for roughly 87% of sales.

However, unlike BYD and Geely,